The average lifespan of businesses in Costa Rica varies significantly by industry, but detailed lifespan statistics by major industry are scarce in the available data. However, there are some general insights about business longevity and success:
- Studies based on data from the Global Entrepreneurship Monitor for Costa Rica indicate that many new businesses face high risks of early failure, particularly within the initial years. Entrepreneurial success tends to be linked with factors such as updated technology use and focused markets, but many startups do not survive long enough to complete their growth cycle, especially in more traditional or less innovative sectors.
- A report on business survival shows a high mortality rate for new businesses in Costa Rica, with many small and medium enterprises facing significant challenges, especially in competitive sectors. Approximately 80% of small and medium businesses are at risk of disappearing, although this is a broad statistic across all sectors rather than industry-specific.
- The Costa Rican economy is relatively diversified, with key sectors including agriculture, manufacturing (medical devices, electronics), corporate services, tourism, and finance. The longest survival rates tend to be in sectors with innovation and export focus, such as technology, medical instruments, and financial services, while more traditional sectors like agriculture and small retail face more volatility.
- Business longevity also depends on regional factors; for example, businesses outside the Central region may have different survival outcomes.
While specific average lifespan by major industry is not explicitly provided in the data, general trends indicate higher survival rates for businesses in high-value manufacturing, medical devices, and corporate services compared with agriculture and small retail sectors. Early years are critical for all sectors, with many startups either evolving or closing within 3 to 5 years.
If precise lifespan statistics by industry are needed, further detailed studies or local business registry data would be required.
